Popular Payment Methods in the Online Gambling Industry This Year

Gambling no longer involves heading to your local casino and putting your spare change in the nearest slot machines. It’s now so much more than that. You can now sit in the comfort of your own home on your laptop or PC or even place bets on the go on your smartphones and tablets. Technology has allowed it to become something accessible to everyone, and you no longer need cash to take part. 

Online casinos have significantly impacted the gambling industry and are popular among all iGaming supporters. One of the best parts of these casinos is that you can now use a wide variety of different payment methods to make deposits and withdrawals.

The number of payment methods available is currently quite vast, but they continue to grow. So let’s look at what payment methods have made headway this year. 

The introduction of Cash App

Cash App is one of the latest payment methods offered on online gambling platforms. It is a straightforward app where you can send and receive money. All accounts are free to sign up for, and the moment you’ve connected a viable debit or credit card with it, you’ll be able to make a payment or request money from a friend instantly. 

The newest feature added to Cash App is the opportunity to exchange Bitcoin and other forms of cryptocurrency.

In the last year, there have been many expansions in the iGaming and online gambling industry. Many more people now use their mobiles to access their favourite casinos and betting sites. There has also been more interest in live casinos where players can engage with a real dealer without leaving the house.

Overview of the online gambling industry

Over the decades, the online gambling industry has dramatically changed. With the first online casino opening in 1994, the market has grown so much that it now rakes in around $40 billion globally each year. Although many countries have restrictions in place on gambling or have banned it altogether, it is still a huge industry that will continue to expand. 

Online gambling involves everything from interactive slots to live poker games on your PC. Most online casinos have thousands of different games from you to choose from with a wide range of unique themes and layouts. You will often be able to browse some of the most high-end providers, ensuring you have the best chance of winning big. 

Predictions for the future include VR in the gambling industry and higher-quality online slot machines and table games. The sky is the limit when it comes to online gambling, and there will only be more improvements from now on. 

Most common payment methods 

Online casinos and betting sites all typically offer a wide range of payment methods, so you can use the games and place a bet for your favourite sports team. This comes in the form of deposits, where you pay for a certain amount of money to enter your balance and use that during your time online. 

The payment methods offered will depend on your location and what is available in your country. However, the most popular online payment method for casinos at the moment is PayPal. This is an online wallet where you can connect your debit and credit cards and pay with them more seamlessly. 

Of course, the main vendors such as Visa, MasterCard, and American Express are still offered, but these often come with longer withdrawal times when you want to cash in on your winnings. That’s why more people are using e-wallet services like Neteller and Skrill, which are similar to PayPal in the way they operate. 

Most casinos will offer all of the above-mentioned payment methods, so it’s not difficult to make a deposit. When it comes to withdrawing your winnings, you may have to use the same method you used to deposit, but sometimes the casino will allow you to choose another option if it’s needed. 

Increase in cryptocurrency casinos 

With Cash App introducing cryptocurrency as one of its features, there’s no surprise that casinos have also jumped on the trend. As a result, there is now a wide range of different crypto-based casinos where you can gamble with lots of coins and tokens, increasing your BitCoin or Ethereum collection. 

BitStarz is the most popular BitCoin casino at this time, but there are also other options such as mBit, 7Bit, Cloudbet, and Red Dog. Most of these allow you to deposit cryptocurrency and the usual payment methods too. You can convert it to real money and use it to play on Cash App slots that don’t accept cryptocurrency as a payment method yet, or head to a crypto-based casino and start gaining even more coins. 

Ready to browse the world of online gambling? Choose the best payment method and head to your favourite casino today.